Good deal? Quote for 2016 BMW i3 REX

Hi Hackrs,

I’m new to leasing and wondering if you can comment on the following quote I have from a BMW dealer in Northern California. Thank you so much!

MSRP - $47,845
Sale - $42,988
Residual - $33,969.95
Money Factor - 0.00158
Term: 24 Months
Rebates: $10,000 (CA rebate, college grad, fleet program)
Adjusted Cap Cost: $32,988
DMV: $371.00
Upfront fees: $116.00
Total taxes: $1,105.44
Adjust due at start: $1,515.64
Base Monthly Rental: $64.88
Tax Rate: 9.5% - 6.16
Total Monthly Payment: $71.04

Any opinions are really appreciated!

Thanks,
Will

Yup take it!. I lease mine for 250 a month. :slight_smile: Which dealer. I will go lease another one for $70.

for $70, you can count me in too lol

Exactly. How many do they have? we will pay you a $200 finder’s fee :slight_smile:

He qualifies for fleet and grad, so have to take that into consideration.

what’s the breakdown? isnt it 7500 federal,

2500 ca rebate? which is on hold now. but you usually put 2500 as a downpayment to reduce cap cost

fleet is 1.5k?

how much is college grad?

I think college is 1k

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If you are a recent college graduate, you have places you want to go, which is why BMW is giving you $1,000 off a new BMW or $1,500 off a Certified Pre-Owned BMW when you purchase a BMW and finance with BMW Financial Services. No matter which model you choose, you can tell the world you have arrived – for less than you think.

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BMW College Graduate Program

Eligibility Requirements1:
You’ve earned an undergraduate, graduate or associate’s degree from an accredited college or university within the previous 24 months OR you are eligible to graduate within the next 6 months and have a verifiable offer of employment.

You have at least 6 months of credit history with no major derogatory entries.

You have a debt-to-income ratio of 20% or less.

You can provide a copy of your diploma or your official transcript.

Security deposit will be waived unless stipulated by credit.

thanks, everyone - $1,000 is grad, fleet is $1,500. combine with $7,500 federal rebate it is total of $10k

Hi Will, I’m also in CA and I’m leasing my i3 rex today. Your deal is better than the deal I’m getting do you mind sharing which dealer your working with and what sales person? I would love to get one from them too.

how much was below msrp was the advertised sale?

sale price of $42,988 was advertised. msrp of $47,845 was advertised.

I’ll ask how many they have :slight_smile:

They’re saying they only have 1 available on their website, but I’ll double check with my salesperson

Thanks. I don’t mind if they have another car with a higher msrp. Looks like your dealership is giving good discounts on i3’s.

i3 rex also qualifies for california rebate https://cleanvehiclerebate.org/eng/apply/1003

Never mind the discount. The rebate is huge 10k! Yuge! The residual is coming out at 69% as well. Yuge!

I’m also at the bay area looking for I3, can you share which dealership that you went for?

Thank you.

don’t understand how residual is 69% though.

http://www.mybmwi3.com/forum/viewtopic.php?p=35102 looks like theres been reports of residual being bumped recently

24 month lease don’t qualify for 2.5K CA rebate (needs to be 30 months). perhaps residual is higher now!